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    2233 Academy Pl Colorado Springs, CO 80909-1696
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    Property profile & analytics

    2233 Academy Pl Colorado Springs, CO 80909-1696

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    • Medical Office Space
    • 30,879 SF
    • 2.02 lot acres
    Off-Market
    Last Sale Jun 2, 2021
    $4,738,600
    Property ID
    US13-0328079
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $4,690,000
    Show details
    Cap Rate Potential
    7.7%
    Medical Office Space
    Location Intelligence

    Current Use by Public Records

    • The Healthcare Fraud Group - James S. Bell / Law Firm
    • Kayla Hunley / Physician
    • BHS Co / Crisis Center / Medical Clinic
    • Floobie's / Wellness Program
    • Voyager Home Health Care / Aged Care / Home Health Care Service

    Property Details for 2233 Academy Pl

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.02 lot acres
    Property size
    30,879 SF
    Zone code
    OC SS
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    6402218011
    APU
    6402218011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,500,000
      ML approach
      $4,120,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,795,000
      6.5%
      $5,350,000
      7%
      $4,965,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,205,000
      Market price range: $4.53M - $10.2M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $7,430,000
      Current use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.755
    Latitude
    38.8647
    CBSA code
    17820
    CBSA name
    COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $63,743
    $165,710
    $1,006,090
    $1,171,800
    -
    $593,939
    $3,606,061
    $4,200,000

    Comparable in this City

    • Value Estimation by Request
      986 SF

      3612 Galley Rd Ste B

      MEDICAL BUILDING • 986 SF
      3612 Galley Rd Ste B, Colorado Springs, CO 80909-4355
      View Details
    • Value Estimation
      $4,165,000
      24,806 SF

      2960 Cir Dr

      MEDICAL BUILDING • 24,806 SF
      2960 Cir Dr, Colorado Springs, CO 80909-1163
      View Details
    • Value Estimation
      $1,650,000
      9,921 SF

      2141 Academy Cir

      MEDICAL BUILDING • 9,921 SF
      2141 Academy Cir, Colorado Springs, CO 80909-1686
      View Details
    • Value Estimation
      $880,000
      6,824 SF

      855 Citadel E Dr

      MEDICAL BUILDING • 6,824 SF
      855 Citadel E Dr, Colorado Springs, CO 80909-5304
      View Details
    • Value Estimation
      $2,580,000
      23,936 SF

      2504 Pike Peak Ave

      MEDICAL BUILDING • 23,936 SF
      2504 Pike Peak Ave, Colorado Springs, CO 80909-7024
      View Details
    • Value Estimation
      $2,950,000
      21,218 SF

      2125 La Salle St

      MEDICAL BUILDING • 21,218 SF
      2125 La Salle St, Colorado Springs, CO 80909-2274
      View Details

    Similar Nearby for Sale

    • $2,848,000
      22,165 SF

      Colorado Springs Medical Office

      Value-add medical office, strong NOI.
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    • $2,310,000
      4,245 SF

      Office Medical Building For Sale

      Office and medical building available for sale or lease.
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      Office Medical Building For Sale

      Office and medical building available for sale or lease.
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      9,921 SF

      Medical Office Space Available

      Medical office building with easy access and tenant opportunities.
      2141 Academy Cir, Colorado Springs, CO 80909
      View Details
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      4,000 SF

      Versatile Office/Medical Property For Sale

      Single-story office with medical conversion potential in central location.
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      986 SF

      Office Condo Near Academy Blvd

      Office condo with recent upgrades and convenient location.
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    Similar Nearby for Lease

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      Class A medical office space for lease in Colorado Springs.
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      Updated Office Space in Colorado

      Move-in ready office space with shared amenities and ample parking.
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      Professional Office Building For Rent

      Meticulously maintained office building with all-inclusive leases and prime location.
      2175 N Academy Blvd, Colorado Springs, CO 80909
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    • Contact for pricing

      7,836 SF Office Building

      Well-maintained office building near downtown Colorado Springs, Colorado.
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      Turn-Key Ready Office Facility

      Renovated office space with modern amenities near downtown.
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    • $16 SF/Yr
      1,234 SF

      Professional Office Suites For Rent

      Convenient and comfortable office suites with abundant natural light.
      2121 Academy Cir, Colorado Springs, CO 80909
      View Details
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    Colorado Springs, CO 80909-1696
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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